Tesla Cybertruck deposits climb to 250,000 in first five days

The deposits equate to a combined $25 million.

Reservation deposits for Tesla's Cybertruck have continued to climb, reaching 250,000 on the fifth day since the truck made its formal debut.

Potential buyers can put down $100 to secure a spot in line, indicating the pre-order program has already generated a combined $25 million in funds.

Notably, the refundable deposit is a small fraction of the $1,000 that Tesla required to reserve a Model 3 following the sedan's debut. In this case, it is unclear if Tesla simply does not need as much development funding for the Cybertruck or perhaps chose a lower dollar value to give the truck a better chance at achieving such headline-grabbing reservation numbers.

Tesla is now under pressure to keep the project on schedule for a late-2021 launch, aligning with the potential launch window for all-electric rivals from General Motors and Ford. The pickup is one of four models in the company's pipeline, under development alongside the Model Y, Semi and next-gen Roadster.

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